Permanent water costs skyrocket

Murray Darling Basin water costs paint bleak picture

News
Aa

A quick summary of the latest water costs from the Murray Darling Basin (NSW, below the Choke) here.

Aa

THE most recent trade of permanent entitlement high security water from the NSW Murray region below the Barmah Choke was made on November 18 for $8500.

That comes off a recent high of $9570 made on November 11.

These are by far the highest prices paid for permanent water since the water market was introduced.

To put it in perspective, in November 2012, sales were at about $1425 to $1950 and in November 2005 they were about $1450.

And temporary water prices follow suit . . .

Since May 2017, when temporary water prices on the NSW Murray below the Barmah Choke bottomed out at $14 a megalitre there has been a phenomenal surge in prices.

Temporary water traded on October 28 fetched $970/ML.

At last year's end, on December 31, water was trading at $413/ML.

Since the all-time low of recent years of $14, it took until June 6, 2018 to hit $200/ML and since then it has increased exponentially to today's all-time record highs.

Figures are taken from online water market waterexchange.com.au

The end result of all this is irrigators are barely breaking even.

Aa

From the front page

Sponsored by